Sources told Axios that Trump used to be in negotiations with hotel companies about selling the rights to his DC hotel.
The hotel is in the historic Old Post Office Building, which Trump leases to the federal government.
According to the GSA, Trump Organization paid $250,000 per month in base rent in 2017.
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Sources tell Axios that Trump used to be President and is currently in negotiations with hotel companies to lease the rights to his hotel in Washington DC.
The hotel is situated on Pennsylvania Avenue, just blocks from Trump's White House. It is in the Old Post Office Building, which dates back to 122 years.
According to Axios, the former president would sell the rights to lease the Trump International Hotel to an estate developer who would then negotiate with hotels companies to manage and renovate the property.
Although the details of this deal are not yet known, Axios reported "Trump's representatives were in discussions with major hotel chains as well as investors."
Former president wanted to sell federal property leased to him in 2019 while he was still in power. Sources told Axios that the former president was unlikely to get more than $500 million he had reportedly requested that year.
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According to Axios, Trump leases the Old Post Office property of the General Services Administration (GSA), under a 60 year agreement that was put in place in 2013. According to the GSA, Trump Organization paid $250,000 per month in base rent in 2017, which was set to increase with inflation.
The hotel was a hub for Republican lobbyists during Trump's term in office, from 2017 to 2021. It also hosted prominent figures from the former president's orbit, including Rudy Giuliani and Mike Lindell, MyPillow CEO.
However, the hotel's profit plummeted in 2020 after Trump's election loss, and Trump's subsequent move to Florida.
CNN reports that sales at DC's hotel fell by 63 percent in 2019 compared to 2019, when the Trump Organization was considering a sale.
Trump has been holding rallies in campaign style across the country, as a private citizen. GOP Rep. Jim Jordan, Ohio, said that Trump is "ready" to announce a bid for the presidency in 2024. However, a spokesperson denied that Jordan made that statement.
